USDJPY Weekly Update

Here you can appreciate a USDJPY chart of 6 of September with a projection on the path of the price that behave pretty well, according to plan. The price went from 108 to 114
Then we can see a second chart that is “under construction” with a downward wedge patter at the top and a possible Head an Shoulders, we still need to wait a little to see if this is going to develop like that

We are getting good macroeconomic data from USA at all levels but the price is not moving along with the news, so it seems that the market has already incorporated all this data and now needs to correct or wait for more information, so the tail risk is on the downside for USDJPY. even with great GDP number that come out today we didn’t have any significatn break of important resistance levels, so i think there is still some wood to chop before the price goes up in the future. We can see that the markets is nervous with (political risk, trump government plan, taxes reform, north Korea and the geopolitical risk for Japan, recent Abe wining the elections…and so on)

So it seems that the market is cautious, and in that case we can see 1 more move down on the pair USDJPY before the sun rises.